Raymond James & Associates Purchases 587,088 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Raymond James & Associates boosted its position in UnitedHealth Group Incorporated (NYSE:UNH) by 33.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,361,396 shares of the healthcare conglomerate’s stock after acquiring an additional 587,088 shares during the quarter. UnitedHealth Group accounts for 0.8% of Raymond James & Associates’ holdings, making the stock its 15th largest holding. Raymond James & Associates owned 0.26% of UnitedHealth Group worth $1,380,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UNH. Kathleen S. Wright Associates Inc. acquired a new stake in UnitedHealth Group in the third quarter valued at approximately $27,000. Global Wealth Strategies & Associates increased its holdings in UnitedHealth Group by 152.4% in the 3rd quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Macroview Investment Management LLC boosted its stake in shares of UnitedHealth Group by 671.4% during the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after purchasing an additional 47 shares in the last quarter. West Financial Advisors LLC bought a new position in UnitedHealth Group in the 3rd quarter valued at approximately $32,000. Finally, Delos Wealth Advisors LLC grew its holdings in UnitedHealth Group by 757.1% during the 1st quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after acquiring an additional 53 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors.

UnitedHealth Group Stock Up 0.6 %

Shares of NYSE:UNH traded up $3.58 during mid-day trading on Friday, hitting $569.61. 3,687,045 shares of the company traded hands, compared to its average volume of 3,966,484. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $584.42 and a two-hundred day moving average price of $533.63. UnitedHealth Group Incorporated has a 12-month low of $436.38 and a 12-month high of $608.63. The stock has a market cap of $525.99 billion, a P/E ratio of 37.77, a P/E/G ratio of 1.69 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. The company had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $6.56 earnings per share. On average, equities research analysts forecast that UnitedHealth Group Incorporated will post 27.68 earnings per share for the current year.

UnitedHealth Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a yield of 1.47%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 55.70%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stephens cut their price objective on UnitedHealth Group from $632.00 to $605.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays raised their price target on shares of UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. TD Cowen lifted their target price on shares of UnitedHealth Group from $601.00 to $609.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Bank of America decreased their price target on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $615.58.

UnitedHealth Group Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.